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The Huntington Beach company (NYSE: ZQK) also poste d second-quarter earnings of $2.8 million. The five-yeard term loan with private-equity firm Rhond was made to improve Quiksilver's liquidity and solidify its bankinh relationships. As part of the terms of the loan, Quiksilverd will name a pair of Rhone appointees to its boarof directors. Quiksilver also refinanced its credit facilitg with anew three-year, $200 million facility led by and . The companhy is also in discussionse with its French banking partnersw to consolidate its European debts into anew multi-yeatr facility.
In the company's earnings report, the company swunbg to profitability in thesecond quarter, posting the earningxs of 2 cents a share, whichb included several one-time items. Withoutg the items, the earnings per share wouled have been 5 centsa share. Analystt estimates placed the earnings at 9 centsa share. Saleds dropped 17 percent, coming in at $494.2 In the second quarte r a year ago, the companu lost $206.2 million, or $1.59 a on sales of $596.3 million. That quarter included losses of $244.09 million from discontinued operations. Quiksilver is an apparep and accessories company. Its core brand are Quiksilver, Roxy and DC.
A renewed focus on those core brands are the focuss ofthe company's long-term plan to improvs profits.
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